Consumer Price Index (CPI)
Canadian ProgramsA measure of how the average price of goods and services changes over time — essentially, the official measure of inflation. When CPI rises, your money buys less. Government benefits like OAS and CPP are adjusted for CPI so they keep up with rising costs.
Related terms
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Old Age Security (OAS)
A monthly pension paid to most Canadians aged 65 and older who have lived in Canada for at least 10 years after turning 18. Unlike CPP, you do not need to have worked to receive OAS. Higher-income seniors may have to repay some or all of it (the OAS clawback).
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Canada Pension Plan (CPP)
A mandatory pension program that most working Canadians contribute to through payroll deductions. It provides retirement income starting as early as age 60, plus disability and survivor benefits. The amount you receive depends on how much and how long you contributed.